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Council approves P3 Works contracts, TIRZ reimbursement framework and creates Brushy Creek PID
Summary
Council approved contracts with P3 Works for administration of two TIRZs, authorized a TIRZ reimbursement agreement framework for Fox Landing/Altura Homes, accepted a petition for a Fox Landing PID and approved creation of the Brushy Creek PID after a public hearing with no speakers.
The council approved multiple economic-development steps Aug. 13, including contracts with P3 Works, LLC, for administrative services related to Tax Increment Reinvestment Zone (TIRZ) No. 2 and a separate TIRZ for Stroope Ranch.
Mary Petty of P3 Works explained a proposed reimbursement agreement for Fox Landing/Altura Homes to consolidate infrastructure agreements and define what public improvements would be reimbursed. Council authorized the City Manager to negotiate and execute a reimbursement agreement.
Council also accepted a petition calling for a Fox Landing Public Improvement District and set a public-hearing process, and later approved creation of the Brushy Creek PID after opening a public hearing with no speakers present.
